Where did Fido go? Now, with a tracking device and yearly fee, you’ll never have to wonder.

In recent months, a slew of companies have unveiled GPS devices made just for pets. The gadgets are generally small enough to be attached to a collar, and allow animal lovers to track their furry companion’s every paw print in real time.

And unlike microchips, which store identifying information and are embedded in the skin of an animal, these devices aren’t invasive, and owners don’t have to wait for a stranger to find and bring their lost pet to an animal shelter to scan the chip.

It’s an upscale trend that could explode into a lucrative niche, experts predict, especially considering the target demographic. Pet owners are now more "crazy" about their four-legged friends than ever — and, if the recession was any indication, they’re willing to splurge even when other consumers are cutting back, said David Lummis, a pet market analyst.

"This could easily be a multimillion-dollar category," said Lummis, who works for New York-based market research firm Packaged Facts. "The big thing that’s been developing in the market, and grown stronger in the past decade, is the human-animal bond."

And pet owners have shown they are willing to pay a premium to strengthen that bond. The $58 billion pet products industry escaped largely unscathed from the recession, with sales growth merely slowing a couple percentage points in the last few years, from a peak of 7 percent in 2006, according to Packaged Facts.

That kind of consistent growth is exactly what Snaptracs is counting on. The San Diego-based company, which formed last year as a subsidiary of Qualcomm — the biggest maker of mobile-phone chips — is betting big on the success of its first and only product: Tagg the Pet Tracker.

SnaptracsThe Tagg device can be attached to a collar.

The rechargeable device, which weighs about an ounce and attaches to a pet’s collar, is hooked up to Verizon’s wireless network. The Tagg system can be set up to send text message or e-mail alerts whenever the pet leaves a designated safe zone, such as a backyard. Users can also locate their pets at any time through a computer or smart phone.

"This puts the control in the owner’s hands," said Dave Vigil, president of Snaptracs. "Now they’re in charge of their loved ones."

The device costs $200, including the first year of service, and $5 a month after that. It’s a small price to pay, Vigil said, considering pets are becoming increasingly "like family members."

"Look at the whole culture where people are now dressing up their pets — it’s just incredible," he said. "The demand has never been greater."

Entrepreneurs are also rushing to grab a piece of the market.

Doug Simon, who owns a dog-walking company in Chicago, recently launched a product called Pet Check, which allows professional walkers and owners to track exactly where a dog was taken on a stroll. In the month since it launched, he said he has received inquiries from all across the country, and even as far as Austria, London and Greece.

Simon, who estimates there are over 3,000 dog-walking companies across the nation, said he came up with the idea after one of his employees accidentally slept through a scheduled dog walk one day. He wanted to find an easy way to guarantee customers their dogs were actually being walked.

"I’ve consistently heard the following customer concerns: What time did they truly arrive? Did they just take my dog to the corner and back? Did I really get what I paid for?" Simon said. "We wanted to provide more accountability."

The Pet Check system doesn’t involve a separate tracking device — it’s all stored in the dog walker’s smart phone. Here’s how it works: A dog walker arrives at a client’s home and checks in by scanning a QRde, usually placed on the fridge. The pet owner then receives an alert that the walk has started, and can sign into a website to track the route and duration in real time. Past walks are also stored in the account.

GarminThe Garmin GTU 10 device.

Pet Check works as a billing system, too, which means a dog walker must also sign up all his clients for automatic credit card payments. Pet Check then takes between a 4.5 percent to 5.5 percent cut of total sales, with the majority of that going to pay off credit card processing fees, Simon said.

GPS manufacturing giant Garmin, known for making navigation systems for the car, has also diversified into the niche. The Olathe, Kansas-based company announced earlier this year it was entering the personal tracking business with its GTU 10 device, a 1.7-ounce podlike gadget that is roughly the size of a cigarette lighter.

Like the Tagg system, users can set up a perimeter and receive alerts, or track real-time from a mobile device or computer. The GTU 10 operates on AT&T’s wireless network and costs $200 for the first year and $50 a year after that.

But the pet-tracking trend could be just the start of a whole new movement.

While the GTU 10 was originally marketed as a gadget that can keep tabs on pets and children, users have quickly found other uses, much to the surprise of Garmin.

The company has noticed many fitness enthusiasts such as marathoners and long-distance cyclists have started wearing the device when they race, so their relatives can easily track their location, said Justin McCarthy, a company spokesman.

"We had people use it in the Boston Marathon," McCarthy said. "There’s a lot of room for products like this, and we’re learning a lot."